Senior Specialist - Upstream Economic Analysis and Investment Evaluation

ADNOC Abu Dhabi UAE; Abu Dhabi; On-site; AED 480,000 - 620,000; Full time

Job summary

ADNOC Group in Abu Dhabi seeks a Senior Specialist in Upstream Economic Analysis and Investment Evaluation to provide economic assessments supporting upstream investment decisions, capital projects and business development activities.

You will develop and review financial models, conduct investment appraisals and prepare business cases for senior management and IPC/IC consideration, collaborating with Finance, Legal and external consultants.

Qualifications

• Minimum 10 years of relevant experience in economic analysis, financial modelling or investment evaluation within the oil and gas industry, with a focus on upstream activities.
• Demonstrated experience in the economic evaluation of capital projects, business development opportunities or mergers and acquisitions.
• Experience working within or alongside large integrated oil and gas companies, or with international partners, is an advantage.

Responsibilities

• Upstream Economic Evaluation of upstream oil and gas investments, including concessions and M&A.
• Assess investments against corporate strategic objectives and expected value.
• Evaluate the financial and economic implications of development opportunities.
• Develop recommendations to support value maximization and capital efficiency.
• Apply investment appraisal techniques to assess financial viability.
• Provide analytical support for upstream investment decisions and corporate transactions.
• Ensure economic assessments reflect project assumptions and commercial considerations.

Skills

Analytical skills

Quantitative analysis

Problem-solving

Microsoft Excel

Education

Bachelor's degree in Economics/Finance/Engineering

Tools

Microsoft Excel

Job description

Job Snapshot

Role: Senior Specialist - Upstream Economic Analysis and Investment Evaluation - Location: Abu Dhabi, United Arab Emirates - Industry: Oil and Energy - Function: Financial Analysis-Research-Reporting - Experience: Minimum 10 years - Job Type: Full Time - Work Arrangement: On-site

Job Overview

ADNOC Group is seeking an experienced Senior Specialist in Upstream Economic Analysis and Investment Evaluation to provide economic assessments supporting upstream investment decisions, capital projects and business development activities. Based in Abu Dhabi, United Arab Emirates, the role focuses on evaluating oil and gas concessions, mergers and acquisitions, farm-in and farm-out transactions, and other investment opportunities. The position supports portfolio optimization, capital allocation and the development of economic recommendations that maximize value for ADNOC and Government interests. The Senior Specialist will develop and review financial models, conduct investment appraisals, assess fiscal arrangements and prepare business cases for senior management and investment decision-making committees. The role requires close coordination with Upstream Investment, Finance, Legal, Group Companies, international shareholders and external consultants.

Job Details

Country: United Arab Emirates - City: Abu Dhabi - Industry: Oil and Energy - Function: Financial Analysis-Research-Reporting - Salary: Not disclosed - Gender: No Preference - Candidate Nationality: Not specified - Job Type: Full Time - Work Arrangement: On-site

Key Accountabilities

• Upstream Economic Evaluation - Conduct detailed economic evaluations of upstream oil and gas investment opportunities, including concessions, capital projects, mergers and acquisitions, and farm-in and farm-out transactions.
• Assess proposed investments against corporate strategic objectives and expected economic value.
• Evaluate the financial and economic implications of upstream development and business expansion opportunities.
• Develop recommendations that support value maximization and capital efficiency.
• Apply appropriate economic evaluation methodologies to assess investment alternatives.
• Provide analytical support for upstream investment decisions and corporate transactions.
• Ensure economic assessments reflect relevant project assumptions, commercial considerations and investment requirements.

Financial Modelling and Investment Appraisal

• Develop, maintain and review detailed economic and financial models for proposed upstream investments.
• Prepare financial forecasts and sensitivity analyses to evaluate investment performance under different assumptions.
• Analyze project economics and investment outcomes to identify key value drivers and potential risks.
• Apply appropriate investment appraisal techniques to assess financial and economic viability.
• Review economic model assumptions and calculations to support accuracy and consistency.
• Present modelling results and investment findings in a clear format for management review.
• Use advanced spreadsheet analysis and relevant economic modelling tools to support investment evaluations.

Upstream Investment Strategy

• Support the development and periodic review of ADNOC 's Upstream Investment Strategy.
• Provide data-driven insights and economic recommendations to the Vice President and senior management.
• Evaluate investment opportunities in the context of corporate priorities and upstream business objectives.
• Contribute economic analysis to strategic investment planning and business development initiatives.
• Monitor relevant investment considerations and provide recommendations that support long-term value creation.
• Collaborate with internal stakeholders to maintain alignment between investment analysis and corporate strategy.

Investment Business Cases and Committee Support

• Participate in preparing investment business cases for proposed upstream projects and transactions.
• Develop supporting economic analyses, financial information and presentation materials.
• Prepare investment evaluation outputs for the Investment Program Committee (IPC) and Investment Committee (IC).
• Present key economic findings, assumptions, sensitivities and recommendations in a structured manner.
• Support management review of investment proposals by providing accurate and timely analytical information.
• Prepare briefing materials that explain the economic implications of proposed investments and business development opportunities.

Portfolio Analysis and Capital Optimization

• Conduct regular analysis of the upstream investment portfolio.
• Review investment performance to identify opportunities for portfolio optimization.
• Evaluate capital allocation considerations across upstream projects and investment opportunities.
• Identify potential improvements in investment efficiency and economic value.
• Provide analytical recommendations to support capital prioritization and investment decisions.
• Assess portfolio performance using relevant economic and financial information.
• Support management in evaluating the economic contribution of existing and proposed investments.

Fiscal Regimes and Concession Economics

• Review and assess fiscal regimes applicable to upstream oil and gas investments.
• Provide economic input into the evaluation of concession agreements and related legal documents.
• Analyze the potential economic implications of contractual and fiscal provisions.
• Support the assessment of investment arrangements involving concessions and corporate transactions.
• Coordinate with Finance, Legal and other relevant stakeholders when reviewing fiscal and commercial considerations.
• Provide recommendations that support the protection of ADNOC and Government economic interests.

Market Intelligence and Economic Research

• Monitor macroeconomic developments, oil and gas industry trends and relevant market conditions.
• Evaluate the potential implications of market developments for upstream investment opportunities.
• Incorporate market intelligence into economic assessments and investment recommendations.
• Conduct research to support investment strategy and portfolio evaluation.
• Identify relevant market factors that may influence investment performance and economic value.
• Prepare economic position papers, reports and briefing notes for senior management.

Economic Evaluation Standards and Governance

• Ensure economic assessments comply with ADNOC 's approved evaluation procedures and internal controls.
• Apply consistent economic evaluation methodologies and reporting practices.
• Collaborate with Group Companies and other directorates to align modelling assumptions and evaluation standards.
• Review analytical outputs for accuracy, completeness and consistency.
• Support the application of recognized industry practices in investment evaluation.
• Identify opportunities to strengthen economic analysis processes and supporting documentation.
• Maintain appropriate quality standards when preparing financial models, reports and investment recommendations.

Stakeholder Coordination

• Maintain effective working relationships with the Upstream Investment team and relevant management representatives.
• Coordinate with ADNOC Group Companies on investment evaluations and economic analysis requirements.
• Engage with Finance, Legal and the Executive Office on relevant investment matters.
• Work with international shareholders and external consultants where required.
• Facilitate the exchange of economic information, assumptions and evaluation findings.
• Communicate complex economic results clearly to technical, commercial and management stakeholders.
• Support multidisciplinary collaboration throughout investment evaluation activities.

Supervision and Staff Development

• Plan, supervise and coordinate assigned activities to achieve functional objectives.
• Provide technical guidance to assigned employees on relevant economic analysis and investment evaluation activities.
• Train and develop staff in the skills required to support business objectives.
• Monitor assigned work and support the timely completion of analytical deliverables.
• Promote effective coordination and knowledge sharing within the team.

Budget and Performance Management

• Provide input for the preparation of functional, divisional, departmental and sectional budgets.
• Support implementation of approved budgets and work plans.
• Investigate significant budget variances and highlight relevant financial concerns.
• Contribute to effective expenditure monitoring and cost control.
• Support achievement of approved performance objectives in accordance with ADNOC 's performance management framework.

Policies and Continuous Improvement

• Implement approved policies, processes, systems, standards and procedures.
• Ensure assigned activities comply with company requirements and relevant international standards.
• Identify opportunities to improve economic analysis workflows and operational efficiency.
• Develop and implement tools and techniques that enhance the quality of analytical processes.
• Review existing practices against recognized industry standards.
• Recommend improvements that strengthen the effectiveness and consistency of investment evaluation activities.

Health, Safety, Environment and Sustainability

• Comply with applicable Health, Safety and Environment policies, procedures and controls.
• Follow relevant legislation, sustainability guidelines and international standards.
• Adhere to ADNOC Codes of Practice and established company requirements.

Management Reporting

• Prepare economic analysis reports, investment position papers and management briefing notes.
• Provide information for Management Information System (MIS) and progress reports.
• Communicate investment evaluation findings and recommendations to relevant management stakeholders.
• Ensure analytical reports are accurate, clear and delivered within required deadlines.

Communications and Working Relationships

Internal Stakeholders

• Vice President, Upstream Investment and Economic Analysis.
• Upstream Investment team.
• ADNOC Group Companies.
• Finance and Legal functions.
• Executive Office.
• Relevant directorates and multidisciplinary teams.

External Stakeholders

• Group Company finance representatives, as required.
• External consultants, when required.
• International shareholders and other relevant external investment stakeholders.

Qualifications and Experience

Minimum Education

Bachelor 's degree in Economics, Finance, Engineering or a related discipline.

Professional Experience

• Minimum 10 years of relevant experience in economic analysis, financial modelling or investment evaluation within the oil and gas industry, with a focus on upstream activities.
• Demonstrated experience in the economic evaluation of capital projects, business development opportunities or mergers and acquisitions.
• Experience working within or alongside large integrated oil and gas companies, or with international partners, is an advantage.

Technical Knowledge and Skills

• In-depth knowledge of upstream oil and gas economic evaluation techniques.
• Strong understanding of financial modelling and investment appraisal methodologies.
• Experience developing economic models, financial forecasts and sensitivity analyses.
• Proficiency in economic modelling tools and advanced spreadsheet analysis, including Microsoft Excel.
• Understanding of the upstream oil and gas value chain.
• Knowledge of fiscal regimes, concession agreements and relevant industry practices.
• Ability to evaluate complex investment opportunities and identify economic value drivers.
• Strong analytical, quantitative and problem-solving capabilities.
• Ability to analyze complex financial and economic data and develop clear recommendations.
• Strong report writing and presentation skills.
• Ability to communicate complex economic findings to senior management.
• Excellent interpersonal and stakeholder management skills.
• Ability to influence and collaborate effectively across multidisciplinary teams.
• High attention to detail, professional integrity and commitment to quality.
• Ability to meet demanding deadlines while maintaining analytical accuracy.
• Ability to work independently and collaboratively in a fast-paced business environment.

Preferred Postgraduate Qualifications

• Master of Science (MSc), Master of Business Administration (MBA) or an equivalent postgraduate qualification in Economics, Finance, Petroleum Economics or a related discipline is preferred.

About ADNOC Group

ADNOC Group is an Abu Dhabi-based diversified energy organization operating across the oil and gas sector and wider energy value chain. The Upstream Investment and Economic Analysis function supports investment decisions through economic evaluation, financial analysis and portfolio assessment. This Senior Specialist position contributes to ADNOC 's investment objectives by evaluating upstream opportunities, supporting capital allocation decisions and providing economic recommendations that help maximize long-term value for ADNOC and Government interests.